MIRA
INFORM REPORT
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Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
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Name : |
BRENITSHU FZCO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
June, 2005 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Engaged in the import
and export of chemical products and related raw materials |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
BRENITSHU FZCO
Country of Origin :
Legal Form :
Free Zone Company - FZCO
Registration Date :
June 2005
Licence Number :
0925, DAFZA
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
2
Line of Business :
Import and export of chemical
products and related raw
materials.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
COMPANY NAME
BRENITSHU FZCO
ADDRESS
Registered & Physical Address
Location :
PO Box : 293504
Town :
Country :
Telephone : (971-4) 3529454 / 6091721
Facsimile : (971-4) 3529454
Email : brenitshu@eim.ae
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Dubai
Airport Free Zone.
KEY PRINCIPALS
Prasheh Desai Managing
Director
LEGAL FORM &
OWNERS
Date of Establishment : June 2005
Legal Form : Free Zone Company
- FZCO
Licence No. : 0925, DAFZA
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
Prasheh Desai 100%
LINE OF BUSINESS
Operations : Engaged in the import and export of chemical products
and related raw materials.
Import Countries :
Subject has a workforce of 2 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/06:
Total Revenue UAE
Dh 3,100,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Mashreq Bank Plc
Deira Branch
PO Box : 1250
Tel : (971-4) 2229131 / 2221134
Fax : (971-4) 2233784
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Brenitshu FZCO is a
relatively new business with operations commencing in June 2005. It is engaged
in the import and export of chemical
products and related raw materials.
According to local sources subject is making steady progress
in the local business market and nothing detrimental has been reported
regarding the manner in which payments are fulfilled. As such the business is
considered to be a fair trade risk.
Maximum suggested credit figure: US$ 80,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)